a. There is no need to go into debt to buy gifts for family and friends this season. Ideally this is a time to encourage friends and family to get creative and rather find ways of making gifts for each other. It adds a personal touch.

b. The alternative is to set budget limits where gifts cost no more than £5 or £10 at the most.

c. This will take away for the need for buying the most expensive latest phone, most expensive and popular toys or other electronic gadgets)

Going away for Christmas is great if you can afford to but if you can’t, please don’t run up huge debts on your credit cards because everyone is going to the Canaries or Morocco.
a. In a week’s time when you are back, you will be repaying the card debt for a few more months to come

b. You can save up and make sure next year you can go for the holiday

Linda Asafo-Agyei is vice president of wealth management at Barclays Wealth. The 34-year-old, named among rising stars in the 2012 Powerlist, coordinates strategic business growth in West African countries such as Ghana and Nigeria.